A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

The matching concept, or matching principle, is a fundamental element of accrual-basis accounting. In accrual accounting, a company records revenue in its books as soon as it has done everything ...

Under settled Delaware law, corporate fiduciaries have an affirmative duty to ensure that corporations follow the law. Specifically, corporate directors and officers are liable for the wrongdoing of ...

Accruals in accounting are income earned and revenue incurred that are recorded as transactions occur, rather than upon completion of payment or delivery. Accruals are the basis of the accrual method ...

Using standard accounting methods benefits any small business. For those looking to level up their financial reporting, adopting generally accepted accounting principles (GAAP) can unlock new ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. When business owners spend money, they expect results.